The increase in the dominance of cloud-based applications along with the rise in cybercrime rate positively impacts the growth of cloud orchestration services.
PORTLAND, PORTLAND, OR, UNITED STATES, September 22, 2023/EINPresswire.com/ — According to the report published by Allied Market Research, the global cloud orchestration market was estimated at $14.98 billion in 2020 and is expected to hit $105.07 billion by 2030, registering a CAGR of 21.4% from 2021 to 2030.
Rise in demand for optimum resource utilization, increase in cloud adoption across several industry verticals, and surge in demand for low-cost process setup & automation drive the growth of the global cloud orchestration market. On the other hand, lack of IT infrastructure in underdeveloped nations and dearth of technical skills for effective cloud orchestration restrain the growth to some extent. However, increase IN demand for streamline business process among SMEs is anticipated to pave the way for lucrative opportunities in the industry.
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• Rise in remote working trend during the pandemic has given way to increase in demand for cloud orchestration since it can provide necessary access to corporate resources to manage collaboration with integrated teams and maintain productivity. This, in turn, has impacted the global cloud orchestration market negatively.
• This trend is quite likely to continue post-pandemic as well.
By service type, the configuration segment held the major share in 2020, garnering nearly half of the global cloud orchestration market. This is due to the high level of cost savings on total cost of ownership and increase in need for optimum resources utilization by several user types including small, medium, and large enterprises. The cloud service segment, on the other hand, is projected to cite the fastest CAGR of 22.7% throughout the forecast period.
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By cloud, the public segment contributed to the lion’s share in 2020, holding nearly half of the global cloud orchestration market. This is owing to significant adoption of public cloud platforms across various verticals such as healthcare and media & entertainment. However, the hybrid segment is projected to manifest the fastest CAGR of 23.1% from 2021 to 2030.
By region, North America dominated in 2020, garnering nearly three-fifths of the global cloud orchestration industry. This is attributed to rise in the recognition of cloud orchestration across various verticals such as BFSI and Telecom in the region. The market across Asia-Pacific, however, is expected to cite the fastest CAGR of 24.9% throughout the forecast period, due to growing demand for advanced resource management systems and the workload shift toward the cloud environment.
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The report focuses on the growth prospects, restraints, and global share. The study provides Porter’s five forces analysis of the global cloud orchestration market forecast to understand the impact of various factors such as the bargaining power of suppliers, the competitive intensity of competitors, the threat of new entrants, threat of substitutes, and bargaining power of buyers on the global Cloud orchestration market trends.
Some of the key cloud orchestration industry players profiled in the report Amazon Web Services, Inc., BMC Software, Inc., Cisco Systems, INC., DXC Technology Company, HP Inc., IBM Corporation, VMware, Inc., Rackspace US, Inc., Oracle Corporation and Flexiscale Technologies Limited. This study includes market trends, Cloud Orchestration market analysis, and future estimations to determine the imminent investment pockets.
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